Sumitomo Mitsui Trust Group Inc. Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Synopsys, Inc. (NASDAQ:SNPS) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 718,514 shares of the semiconductor company’s stock after purchasing an additional 10,538 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.46% of Synopsys worth $348,738,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. raised its holdings in shares of Synopsys by 40.0% during the third quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 20 shares during the last quarter. Caprock Group LLC raised its stake in Synopsys by 0.5% in the 4th quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock valued at $1,803,000 after purchasing an additional 20 shares during the last quarter. Aptus Capital Advisors LLC lifted its holdings in Synopsys by 1.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,447 shares of the semiconductor company’s stock valued at $733,000 after purchasing an additional 22 shares in the last quarter. Resurgent Financial Advisors LLC boosted its stake in Synopsys by 2.8% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 809 shares of the semiconductor company’s stock worth $410,000 after purchasing an additional 22 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Synopsys by 6.1% during the third quarter. Larson Financial Group LLC now owns 398 shares of the semiconductor company’s stock worth $202,000 after buying an additional 23 shares in the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total value of $10,544,236.38. Following the completion of the transaction, the executive now owns 1,460 shares of the company’s stock, valued at $738,774.60. This trade represents a 93.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SNPS shares. Robert W. Baird decreased their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Redburn Atlantic started coverage on shares of Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 target price on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $635.00 price target on shares of Synopsys in a report on Wednesday, December 4th. Berenberg Bank assumed coverage on Synopsys in a research note on Tuesday, October 15th. They set a “buy” rating and a $660.00 price objective on the stock. Finally, Wells Fargo & Company cut their target price on Synopsys from $570.00 to $540.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $641.82.

Synopsys Stock Performance

Synopsys stock opened at $533.18 on Friday. The firm has a 50 day moving average price of $514.44 and a 200 day moving average price of $519.45. Synopsys, Inc. has a fifty-two week low of $457.52 and a fifty-two week high of $629.38. The company has a market capitalization of $82.42 billion, a PE ratio of 36.72, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12.

Synopsys Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.